The US healthcare industry has witnessed the gradual transition from paper-heavy, labor-intensive tasks and inefficient administrative processes to the embracing of automated procedures, more than a decade ago –a remarkable development which set the trend in the US, and was replicated world-over.
However, in due course, healthcare providers realized that these IT-led systems and processes introduced technical complexities which consumed significant time and resources, curtailing their bandwidth to focus on their core competency of providing healthcare services to patients. Thus, the industry opted to outsource the non-core part of their business of coding, generating health records, receivables management, early-out account transfers etc. This function was mostly outsourced to companies specialized in RCM (Revenue Cycle Management) services in the US.
In light of the above mentioned, we are thrilled to present AVEC Health Solutions, LLC. The firm enables its healthcare partners to thrive and grow by delivering large system revenue management solutions at industry beating rates. It empowers them (the partners) to prosper by maximizing their revenue opportunities and facilitating focus on patient care. AVEC Health Solutions was established in 2013 and is headquartered in Salt Lake City, Utah.
Interview Excerpt: John Evensen, Co-Founder/COO & Simon Hughes, Co-Founder/CEO
Why was the company set up? And how did you expand your company and its offerings over the years?
Initially, the company was set up to serve the underserved market of the community and rural hospital environment –to bring big system efficiencies to the rural marketplace. And to help keep the doors open at smaller critical access facilities that the communities rely so heavily upon.
We found that our assumption was correct, that the small community hospital market was underserved. When we fly to a remote area of the country and then drive another three hours to a client site, they know that we are committed to them. We back up our words with actions.
What challenges did you face in your initial years? What can your peers learn from it?
Like many, growth was an initial challenge. We now have it dialed in and know exactly what needs to happen prior to bringing on new clients. This begins months in advance in planning and hiring to meet specific growth projections. We consistently staff at approximately 115%-120% of current need so we can react to existing and new clients immediate needs without delay.
“Earning trust and respect of consumers all around the world is through consistent focus on delivering high quality in all of our actions.” How do you interpret this statement?
We are in fact an international company, employing over 800 people around the globe. Trust is at the heart of everything we do. We know and understand how valuable/critical the rural healthcare hospital market is to the surrounding areas they serve, and have built our services accordingly. We are able to deliver consistent high-quality services due to our nimble approach and The Game Changer: Utah-based, Healthcare RCM Outsourcing Market Expert, AVEC Health Solutions, LLC is on an Upswing
We achieve our goals through delivering world-class financial results via the most nimble infrastructure available today: Simon Hughes
one size doesn’t fit all. We are tailored in our approach to each client. The solution at each facility is customized to fit their particular needs – be it an extension of their existing team, a complete outsource environment, or some combination of these. Every solution is designed for the specific client and with a nimble approach can be changed literally overnight.
Fostering a culture of feedback is crucial to the success of every organization. How is this true for your company?
We constantly monitor and work with our clients to improve. It’s critical to maintain an open dialogue with our clients in order to be successful. We have conference calls with senior leadership at every client at least weekly if not more frequent. Likewise, employees are on an equal plane and are encouraged to share ideas that enable us to better serve our customers/partners.
Customer service varies, but companies can still be successful. How do you maintain your customers’ trust and loyalty?
It’s quite simple; understand what’s needed, develop a roadmap to get there, mutually identify key milestones and timeframes, establish expectations, be nimble in execution, constantly monitor, and communicate with the clients on daily basis. They view us as a part of their team, not a vendor relationship.
What do you feel are the reasons behind your company’s reputation?
We say what we believe and we deliver what we say. We put the customers’ needs first. We don’t have fancy sales and marketing slicks, but rather we grow primarily through word of mouth by providing excellent service.
How does your company contribute to the global IT platform and society at large?
Not only are we serving the rural communities and enabling them to preserve a hospital within their towns by assisting in improving efficiencies, but from
a global perspective, we provide jobs to hundreds of people. Our people overseas benefit from an upper-middle-class employment opportunity that typically wouldn’t be available to them otherwise. Almost all of our employees hold advanced degrees in their areas of discipline.
As a question on sustainability, where do you see your company a couple of years from now?
Our success in the small to midtier hospital market has lead to larger systems taking notice of our capabilities. We have now been
asked to provide services to these larger entities as well. We have consistently been growing at roughly 200 percent per year.
Obviously, the larger we become the more difficult it is to maintain the same growth rate. However, we are certainly on tract to double again within the next two years.“